<button *ngIf="!loader" type="submit" class="custom-button blue left">Update</button>
<button (click)="close()" class="custom-button red left">Close</button>

export class InventoryDetailsComponent implements OnInit {
  @Input() inventoryDetails: boolean;
  **@Output() inventoryDetailsChange = new EventEmitter<boolean>();**
  @Output() update = new EventEmitter();

  close () {
    this.inventoryDetailsChange.emit(false);
  }